Local bank is self described as B corporation. I was told it’s good for the neighborhood and “better” than traditional banks. Looking for a simple explanation that is not Wikipedia. Thank you.
In: 7
Some quick googling shows some interesting details.
B corperation is NOT a legal title but funny enough, there is a legal title called “benefit corperation that is often abreviated to B corp.
So just looking at that, it seems moddeled explicitly to give the impression that the title is an weighty legal title, while it’s actually a commercial title.
Currently, there seem to be quite strict conditions to get the commercial title.
But the funny thing is that commercial titles can simply change their conditions anytime they decide they want more money…..
So to sum it up. the B corperation title means that the company cares about looking good and is willing to pay for non-legal titles to make sure they look good.
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